Bill Buckler Puts Things Back Into Perspective: "Of The Total US $15 Trillion Market Capitalization, The Fed Provided About Half Of That"

On a surprisingly quiet night, during which many, chief among them the President of the US, were expecting some fireworks, it is easy to get lost in all in your face political farce, while ignoring, and even blissfully forgetting, the real financial details behind the scenes. Luckily we have Bill Buckler, whose latest edition of "The Privateer" puts everything right back in perspective, and reminds us that "in the period between December 2007 and July 2010, the Fed parcelled out $US 16.1 TRILLION in emergency loans to financial entities all over the world. Almost half of this - a total of $US 7.75 TRILLION - was loaned to four US banks. They were Citigroup, Morgan Stanley, Merrill Lynch and the Bank of America. In July 2010 (the cut off date for this “audit”), total US stock market capitalisation was $US 15 TRILLION. The Fed provided about half of that." And here were are, haggling over $30 billion here, and $50 billion there...





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Bond Complex Modestly Lower As Newsflow Slows To A Trickle

Submitted by Tyler Durden on 07/24/2011 - 22:09 Bond Mean Reversion After mysteriously, and briefly, appearing two weeks ago, and then again last week, we are once again experiencing one of those eerie "cross the streams" kind of moments, when both stocks and bonds are sold off (and gold jumps to record highs) on renewed concerns that the ponzi is unwinding and central planning committees around the world are furiously scratching their bald heads for contingency plans (that do not involve a Gulfstream and a crate of sold gold) which do not exist aside from doing the same old even more furiously. Below is how tonight's modest sell off in bonds looks like. In the absence of any additional newsflow (don't laugh, read this) we expect the mean reversion bots and buythedip-o-matics to get us green overnight, totally screwing up Obama's plan to scare the bejeezus out of any of his GOP adversaries on the debt hike issue courtesy of a market plunge. Elsewhere, be on the look out for yet another BOJ intervention should "newsflow" return as Japan’s Finance Minister Yoshihiko Noda says “will take resolute actions when necessary” in currency market. Then again he has been saying that for two weeks straight now, and absolutely nobody is taking the BO seriously any longer.





US Stock Futures Drop, Gold Up on Debt Deal Impasse

U.S. stock futures fell and gold hit a new record as Washington appeared no closer on Sunday to raising the U.S. debt ceiling to avert a devastating default.

Guest Post: Peacock Syndrome - America's Fatal Disease

After decades of a debt financed contest to display the gaudiest plumage, is the average American happier? Considering more than 10% of all Americans are on anti-depressant drugs, I’d say not. The rat race for status, the appearance of wealth and visible faux displays of success do not increase well-being. If most of our earnings are spent on an empty game of status, we should not expect much improvement in our quality of life. There is something perverse about having more than enough. When we have more, it is never enough. It is always somewhere out there, just out of reach. This is the attitude that drives the criminals on Wall Street and politicians in Washington DC to constantly seek more power and wealth. The more we acquire, the more elusive enough becomes. Much of the debt financed purchases of consumer trinkets, baubles and gadgets is nothing more than an expensive anesthetic to deaden the pain of empty lives. Meanwhile, millions of Americans cling to their borrowed peacock feathers as the butcher of reality bears down upon them. The end won’t be pretty. The brave conquerors of strip malls across the land can enjoy their toys, gadgets, and treasures for awhile longer, but they need to remember one thing – Glory is fleeting and death can come suddenly.





Mike Pento: Debt Ceiling Misconception and Deception

Posted by : rcwhalen

Post date: 07/24/2011 - 21:24

The debt ceiling debate that has dominated the headlines over the past month has been thoroughly infused with a string of unfortunate misconceptions and a number of blatant deceptions. As a result...





2 Million 99ers Scream Hard Recovery for The Jobless

Posted by: EconMatters

Post date: 07/24/2011 - 21:19

The The more disturbing jobs numbers are coming from the long-term unemployment.  A year after the official end of the recession, more than two million Americans have been out of work...





"DC Is a Big Bag of Suck That Couldn't Solve a Rubik's Cube If It Were All One Color"

Posted by: George Washington

Post date: 07/24/2011 - 20:22

I guess it shouldn't be surprising that Congress isn't succeeding in helping the American people, given that most politicians: (1) Think like pimps; (2) Live in an entirely different world from...





Largest Municipal Bankruptcy in History Could be filed next week (in Jefferson County, Alabama.) 




You know you live in a banana republic when...




US Debt Ceiling: Three Ways This Can Unfold








We Print Bonds – Not Money Martin Armstrong




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100 Basis Points to Armageddon Bill Bonner 




How Greece Could Trigger Another “2008″ Event Graham Summers 




500 Million Debt-Serfs: The European Union is a Neo-Feudal Kleptocracy Charles Hugh Smith   




"Down To The Wire": Oakree's Howard Marks Takes On The US Debt Ceiling Tyler Durden    



   
As Europe acts on debt crisis, U.S. dithers Tom Petruno   




Faber: Ben Bernanke doesn’t understand international economics Jim Puplava      




Debt! Debt! Debt! Dave Cohen 



        
Dinosaurs, Dodo Birds, Wooly Mammoths, and Free Markets Rob Kirby   




David Walker Video: 5 Consequences If America Doesn’t Raise the Debt Ceiling Aaron Task








Wall Street Paralyzed By US Debt Talks




The Euro Threatens World With Economic Meltdown




Celente Predicts Gold Standard Will Not Save US Economy 




David Morgan on Silver Price Manipulation, Delivery Default, and Supply Shortage Risks

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